Enter your ZIP code:

Auto Insurance: The Secret Weapon for Saving at the Pump

Lately, consumers befuddled by surging gas prices and high auto insurance rates may be wondering if the oil and insurance industries are in cahoots.

This economic "double whammy" makes it harder for people to afford to drive, but with limited public transportation in the U.S., turning in the car keys isn't exactly an option.

So what are consumers to do? Enduring that 30-mile commute via bicycle is hardly a smart alternative. That's why InsureMe is here to present you with the secret weapon to reducing your auto insurance costs—and spending those savings at the pump.

Feeling the Squeeze

According to a 2007 Gallup poll, about half of respondents said they made significant adjustments in their spending due to the cost of gas. As early as 2005 The National Retail Foundation had observed a similar trend. Consumers are taking fewer vacations, diningout less and even buying fewer groceries.

These findings aren't surprising considering that the average two-driver household now spends about $3,000 a year on gasoline—$1,000 more than last year's average. This is especially tough for middle-income families, already feeling the pinch from increased costs for health care, education and housing.

Tack on the cost of auto insurance and we're talking about some serious spending: the cost of auto insurance for two drivers with two cars can exceed $4,500 a year. And, if one driver has had an accident, there can be an $8,000 difference between insurance companies.

Finding the right auto insurance can shave dollars off your premiums—savings can you can pocket and use at the pump.

Successfully Executing the Secret Weapon

It's important that you understand the fundamentals of the secret weapon to reap its benefits.

Employ these tips to reduce the cost of your auto insurance—and spend the savings filling up your gas tank:

Shop around. Comparing auto insurance rates with a number of insurers is the best way to scope out a deal. Use InsureMe's free service to get paired with multiple agents and brokers in your area.

Ask about discounts. Taking advantage of every discount for which you are eligible may substantially lower your premium.

Ask about discounts for:

  • Good driving records
  • "Good student" drivers
  • Drivers over 50
  • Cars with safety and theft-deterrent systems
  • Low annual mileage
  • Insuring multiple cars

Remember to ask your agent about these and other possible discounts, as they may not be offered up front.

Choose a higher deductible. Raising your deductible may substantially lower your auto insurance rates. While a common deductible is $500, raising it to $1,000 or more could save you hundreds on your premium.

Keep in mind that the deductible is the amount you pay out-of-pocket before the insurance company pays for any damages. Be sure you select a deductible that won't break the bank if your car needs repair after an accident.

Maintain clean credit. Bills, bills, bills. We hate paying them, but not doing so on time may cause you to pay more for auto insurance.

Why? Believe it or not, insurers have found a correlation between credit history and your probability of having an accident. While some states limit the use of your credit score in determining your rate (such as excluding late payments on medical bills), credit scoring is becoming increasingly popular with insurers.

It's best to get a free copy of your credit report from the credit bureau to correct any errors—and pay those bills early, just for good measure.

Review your policy. Reevaluate your policy annually, and check to see that you're still getting the best possible rate.

Allegiance aside, if you're not getting the best rate, consider finding a different insurer.

You may also want to consider dropping collision and comprehensive coverage on older cars. Doing so will help you avoid paying more for coverage than what the car is worth, leaving you with the change.

Following these tips should, without a doubt, reduce your premiums, giving you more money to compensate for swelling gas costs.

Avoiding the $40 Fill-Up

With no relief in sight, the $40 fill-up is quickly becoming old hat. And while we can't control gas prices, we can offer some additional tips to ensure fewer $40 fill-ups:

Avoid idling. After 30 seconds of idling, it's actually cheaper to turn off the car and restart again when you're ready to drive.

Lay off the lead foot. A comprehensive study by Edumund's proved that accelerating and braking more slowly can increase your miles per gallon by over 35 percent in an SUV and over 27 percent in a two-door coupe.

Lighten the load. If, for some reason, you've been carrying around a spare slab of concrete in your trunk, take it out to see a drastic improvement in your fuel economy.

Pick a lane. Studies have shown that changing lanes does not significantly reduce your drive time. So pick a lane, set the cruise (if possible) and enjoy the ride. Besides, no one likes Mr. Lane Changer anyway.

The Bottom Line

For most consumers, surging gas prices and increasing insurance rates are a financial nightmare. But by using these tips, you can take control to get the most out of your auto insurance, and potentially put the savings into the gas tank.

List of Articles
No. Subject Author Views
85 Rental Car Insurance: Do You Really Need It? youcomparequotes 17644
» Auto Insurance: The Secret Weapon for Saving at the Pump youcomparequotes 17973
83 Getting the Cheapest Car Insurance in Your State youcomparequotes 16917
82 Play It Safe for Cheap Truck Insurance Rates youcomparequotes 17379
81 How to Get Discount Auto Insurance youcomparequotes 17723
80 Insurance for Van Lovers youcomparequotes 17435
79 Car Insurance That Fits Your Needs youcomparequotes 17121
78 Online Car Insurance Quotes in 5 Easy Steps youcomparequotes 17306
77 Getting Insured with an Online Auto Insurance Quote youcomparequotes 18327
76 Home and Auto Insurance: Sure-Fire Protection in Unsure Times youcomparequotes 17126
75 How to Keep Teen Car Insurance Quotes at Bay youcomparequotes 19366
74 Choosing Cheap Online Car Insurance That Fits Your Life youcomparequotes 17708
73 Auto Insurance from InsureMe youcomparequotes 17625
72 Car Insurance Comparisons Save You Time & Hassle youcomparequotes 17987
71 Car Insurance Companies & InsureMe Save You Money youcomparequotes 18377
70 Buying and Insuring a New Car youcomparequotes 16748
69 Compare Auto Insurance Rates youcomparequotes 17080
68 Safety Measures Lower Auto Insurance Quotes youcomparequotes 16585
67 Getting Car Insurance Quotes, from Beginning to End youcomparequotes 16682
66 The Car Insurance Quote & Ratings Factors youcomparequotes 17162
65 What's Behind Your Auto Insurance Quotes? youcomparequotes 17276
64 How Cheap Car Insurance Can Save You Money youcomparequotes 16614
63 How to Reduce Car Insurance Prices youcomparequotes 17152
62 Getting Insured with Free Car Insurance Quotes youcomparequotes 17347
61 Auto Owners Insurance & Costly Driving Mistakes youcomparequotes 16662
60 Auto Insurance Cost & Your Ride youcomparequotes 17157
59 How No Fault Auto Insurance Works--or Doesn't youcomparequotes 16933
58 How to Get the Cheapest Car Insurance youcomparequotes 16841
57 Selecting a Car Insurance Company youcomparequotes 17543
56 Finding New Car Insurance Following Cancellation or Nonrenewal youcomparequotes 17150
55 Get the Best Car Insurance Rates Around youcomparequotes 17391
54 Factors That Affect Your Car Insurance Quotes youcomparequotes 16429
53 Child Safety Belts Keep Kids Safe youcomparequotes 17093
52 Speeding and Car Insurance Rates youcomparequotes 16795
51 Not At Fault Car Insurance & Accidents youcomparequotes 16933
50 State Auto Insurance Becoming Available youcomparequotes 17250
49 Auto Insurance Gap Narrowed by Insurance youcomparequotes 17667
48 Car Insurance & Roommates or Family Members youcomparequotes 17247
47 PIP and No-Fault Auto Insurance Reform youcomparequotes 16943
46 PIP and No-Fault Auto Insurance Reform youcomparequotes 16847
45 SUVs: Minor Collision, Major Damage youcomparequotes 17399
44 Severe Weather Driving Tips youcomparequotes 17175
43 Avoiding Aggressive Drivers youcomparequotes 18033
42 Safety Tips & Car Insurance for Teens youcomparequotes 17093
41 Insurance for Cars: It's Your Choice youcomparequotes 17051
40 Car Insurance Quotes Save You Money youcomparequotes 17112
39 Finding & Comparing Auto Insurance Specialists youcomparequotes 17977
38 Safety Features Save Lives & Money youcomparequotes 16871
37 Curbing Auto Insurance Prices youcomparequotes 16411
36 Teen Auto Insurance youcomparequotes 16695
35 Car Insurance: Your Questions Answered youcomparequotes 16746
34 How to Buy Car Insurance youcomparequotes 17380
33 Vehicle Insurance: Covering Any Kind of Car youcomparequotes 16658
32 Truck Insurance for Your Pride & Joy youcomparequotes 16452
31 How Insuring a Used Car Can Save You Money youcomparequotes 17317
30 All-in-One Policies Insure Car & Home Together youcomparequotes 17201
29 Credit Scores & Car Insurance youcomparequotes 17814
28 Classic Car Insurance Protects Your Relic Ride youcomparequotes 16317
27 Reducing SUV Insurance Rates youcomparequotes 16834
26 Good Driver Car Insurance Rewards Safe Driving youcomparequotes 17351
25 How to File an Auto Insurance Claim youcomparequotes 16987
24 Avoiding Deer Collisions While Driving youcomparequotes 17457
23 Cheap Auto Insurance through Safe Driving youcomparequotes 16807
22 Auto Insurance Basics That Save youcomparequotes 17214
21 It's Official - Men Are Terrible Drivers youcomparequotes 18706
20 Car Insurance Quote Saves Money and Stretches Income youcomparequotes 17465
19 Auto Insurance Quote Heavily Dependent on Driver Behavior youcomparequotes 16990
18 Car Insurance Quotes Separate Fact from Fiction youcomparequotes 17250
17 How What You Drive Affects Your Auto Insurance Quotes youcomparequotes 17020
16 Cheaper Car Insurance in 8 Easy Steps youcomparequotes 17374
15 Save Hundreds on Your Car Insurance Without Switching to Geico youcomparequotes 16863
14 Your Options in Motorcycle Insurance youcomparequotes 16838
13 The Advantages of RV Insurance youcomparequotes 17213
12 Enjoying the Classics: How to Insure Your Old Relic youcomparequotes 34713
11 Insuring Your Teen Driver youcomparequotes 16971
10 The SR22 & Car Insurance youcomparequotes 16467
9 Auto Insurance & Generic Parts youcomparequotes 17176
8 A Trip Gone Wrong: Summer Breakdown on the Road youcomparequotes 18303
7 Drowsy Drivers, Wake Up! youcomparequotes 16475
6 Cheap Car Insurance Protection You Deserve youcomparequotes 17839
5 Top 8 Safety Picks for Car Insurance Discounts youcomparequotes 17279
4 Drivers: 7 Important Facts about Texting That Could Save Your Life youcomparequotes 21362
3 Buckles: Use Them for Safety, Not for Show youcomparequotes 16780
2 Auto Insurance Quotes youcomparequotes 17240
1 Why You Should Give Thanks -- And Stay Home This Year youcomparequotes 17461
XE Login